Whether you’re buying or selling a home, a real estate agency makes the process a whole lot smoother. You likely know nothing about real estate, while they know everything. They’ve got your back and you cannot do this on your own. At least that’s what they want you to think.
There has been significant debate over the years about the value of realtors. Of course, it is always the extremes that get the most attention, and so you will find many people who believe that realtors are the most dishonest people on the planet.
On the one hand, the reality is that they’re no more honest or dishonest than anyone trying to do their job. There are some pathological liars, but most realtors are trying to provide the best service while getting paid. On the other hand, realtors will sell their role as more significant than it actually is while potentially keeping schtum about things that might put a buyer off.
If you go it alone, you can get home insurance quotes online in no time from a company like Lemonade. You can get all the legal documents and information you need from a website like Rocket Lawyer. You don’t need an agency.
However, the admin adds up and can become overwhelming without an expert to guide you through it all. Ultimately, taken in perspective, real estate agencies will likely help you far more than they harm you.
As such, you should definitely consider using a real estate agency to buy or sell a home. But you should also keep in mind that there are some things your realtor won’t tell you. These are the 3 most common things.
1. You’re a number
Most people assume that realtors will always try to negotiate the highest rate possible. After all, that will bring them the most commission. This would seemingly benefit realtors helping the seller but not those helping the buyer. However, just because you’re selling a house does not mean that your realtor has the best price in mind.
The fact is that selling a home is the best marketing that any realtor could hope for. If they are trying to become the face of realty in the neighborhood, your house is another point towards their cause. Your home’s value affects their pocket right now, but the sale is what will bring in more clients.
There are plenty of people who have sold their homes at a lower price than they could’ve gotten simply because a realtor was nearing the end of their mandate or needed to bulk their numbers up.
2. A small firm’s great service comes at the cost of experience
While you must definitely be aware that a realtor may downsell your home to contribute to their numbers, it is not just manipulative marketing. When looking for a realtor, many buyers and sellers are instinctively drawn to the little guy. Individuals or small firms provide a much more personal service and may be more honest with you than some big corporation. However, it comes at a cost.
Successful agents and agencies have proven that they can close sales, but their benefit goes beyond that. They have a much greater network within the real estate world. They know who to call to get paperwork done and facilitate the transfer. They will ensure a smooth process, whereas a small firm might struggle.
This is not to say that there aren’t excellent real estate agencies that are up-and-coming. But make sure they have what it takes before being drawn in by how personable they are.
3. Not all homes will sell anytime soon
If you approach an estate agent to sell your home, they’re probably going to take you on as a client. This doesn’t mean they believe they can sell your home. Sometimes, homes just are not in good enough condition to attract serious buyers. While some people like a fixer-upper, they want to be able to at least move into a home that they already like.
In most cases, a realtor will tell you that you need to do work to improve your chances of a sale. Nonetheless, they will continue to give you hope because if someone does happen to want to buy your home, they’ll benefit. In the meantime, you can stay on their books while they do the bare minimum to get your house sold.